Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities    
Net income $ 888 $ 730
Adjustments to reconcile net income to net cash provided by (used in) by operating activities:    
Depreciation and amortization 2,658 1,661
Loss on rental units and other fixed assets 338 73
Provision for sales returns 948 362
Provision for doubtful accounts 196 482
Provision for rental revenue adjustments 1,672 1,159
Provision for inventory obsolescence 26 41
Stock-based compensation 131 24
Deferred tax assets 58  
Decrease in fair value of preferred stock warrant liability (36) (20)
Changes in operating assets and liabilities    
Accounts receivable (10,669) (3,169)
Inventories (429) 11
Deferred costs of rental revenue 6 (4)
Prepaid expenses and other current assets (428) (189)
Accounts payable and accrued expenses 1,193 797
Accrued payroll 931 325
Warranty reserve 112 213
Deferred revenue 556 166
Income tax receivable 87 31
Income tax payable 432  
Net cash provided by (used in) operating activities (1,330) 2,693
Cash flows from investing activities    
Investment in intangible assets (169)  
Production of rental equipment (2,890) (3,162)
Purchases of property and equipment (169) (406)
Refund of deposit   (1)
Net cash used in investing activities (3,228) (3,569)
Cash flows from financing activities    
Proceeds from redeemable convertible preferred stock warrants and common stock warrants exercised 467 865
Proceeds from stock options exercised 11 1
Proceeds from initial public offering 56,471  
Costs associated with initial public offering (4,902)  
Repayments of debt from investment in intangible assets (53) (54)
Repayment of borrowings (1,407) (917)
Net cash provided by (used in) financing activities 50,587 (105)
Net increase (decrease) in cash and cash equivalents 46,029 (981)
Cash and cash equivalents, beginning of year 13,521 15,112
Cash and cash equivalents, end of period 59,550 14,131
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 132 107
Cash paid during the period for income taxes 39 14
Non-cash transactions:    
Deemed dividend on redeemable convertible preferred stock $ 987 $ 1,723